> We know from the CFTC settlement that Tether printed tethers from nothing and accounted them in the reserves as “loans.” We also know that Alameda minted 39.55 billion tethers and certainly didn’t send Tether anything like $39 billion — which would have been more than their entire claimed assets under management.
Wow so SBF literally started the whole scam by printing money. I am shocked and amazed that Sequoia missed this. But I am not surprised. I am very very certain that they knew this and played a big part in this fraud. What a bunch of crooks and thieves Sequoia have become.